Trump to announce new 25% tariffs on steel and aluminum on Monday - Reuters
Kyiv • UNN
The US President announced an additional 25% duty on steel and aluminum imports. Trump also announced restrictions on Japanese investment in US Steel.
US President Donald Trump announced the introduction of additional duties of 25% on imports of steel and aluminum. This was reported by Reuters, according to UNN.
Details
While flying to the NFL Championship Game in New Orleans, Trump told reporters that the new tariffs would be announced on Monday. He also announced the introduction of reciprocal tariffs at the beginning of the week, which will take effect almost immediately and affect all countries according to their own tariff rates.
According to government statistics and the American Iron and Steel Institute, the main steel exporters to the United States are Canada, Brazil, and Mexico, as well as South Korea and Vietnam. As for aluminum, Canada remains the main supplier, accounting for 79% of imports of this metal in the first 11 months of 2024.
In addition, Trump spoke about the Japanese company Nippon Steel, which invests in the American metallurgical giant US Steel. He said that the government would not allow the Japanese company to obtain a controlling stake, although he admitted that the new duties would help revive the company.
Recall
Analysts note that any import duties applied to metals or mining products could lead to higher domestic prices for local buyers of these materials.